Amazon Founder Jeff Bezos Overtakes Bernard Arnault as Second-Wealthiest Person in the World

Amazon founder Jeff Bezos has surpassed French luxury goods tycoon Bernard Arnault in wealth, claiming the second-wealthiest position globally. This shift occurred as Amazon shares saw a slight increase and LVMH shares experienced a decline. The battle between Bezos and Arnault for the title continued throughout the day.

By just after 4 p.m. EDT on Monday, Bezos’ net worth stood at approximately $204.3 billion, marking a $2.4 billion increase for the day. In contrast, Arnault’s net worth was recorded at $203.9 billion, down by $4.3 billion by 4 p.m.

Shares of LVMH under Arnault’s leadership dipped by 2.21% at the close of the market on Monday, while Amazon shares rose by 1.5%, contributing to the slight bump in Bezos’ net worth.

Despite these fluctuations, the wealthiest individual globally remains Tesla CEO Elon Musk, with Forbes estimating his net worth at $207.8 billion as of Monday afternoon.

This recent battle for the top spots among billionaires has seen numerous shifts. Before overtaking Arnault, Bezos and Musk were vying for supremacy. Amazon’s stock has shown a 6% increase over the last three months, contrasting with Tesla’s modest 0.39% rise and LVMH’s 12.99% decline during the same period.

Earlier this year, Bezos and Musk were engaged in a similar tussle for the position of the second-wealthiest person globally and the wealthiest individual in the U.S. The dynamics of this billionaire race continue to evolve, with Musk potentially securing the top spot if Tesla shareholders approve a stock grant on Thursday.

Stay updated with Forbes for more insights on the shifting fortunes and rankings within the world’s wealthiest individuals.